Wisconsin Retirement System returns 11.4% for fiscal year

State of Wisconsin Investment Board, Madison, announced a preliminary net return of 11.4% for the fiscal year ended Dec. 31 for the Wisconsin Retirement System's $122 billion core trust fund, according to a Jan. 16 news release.

For the five years ended Dec. 31, the core trust fund returned a preliminary annualized net 9.3%.

Benchmark information was not provided, but the news release said all periods ended Dec. 31 exceeded the benchmarks as well as its 6.8% target return.

The core trust fund had returned a net -12.9% for the fiscal year ended Dec. 31, 2022.

"Significant market volatility over the past several years reinforces the importance of maintaining a fully funded pension system," said Edwin Denson, SWIB's executive director and chief investment officer, in the news release. "Given the challenges investors continue to navigate, we remain focused on a long-term investment strategy for the WRS that is designed to weather a variety of market climates."

The core trust fund's target allocation is 48% public equities, 25% public fixed income, 19% inflation-sensitive assets, 15% private equity/debt, 8% real estate and -15% leverage.

Actual allocation information as of Dec. 31 was not provided. Spokespeople Shannon Gannon and Chris Preisler could not be immediately reached for further information.